Business Initiative Leading Development (BUILD) has congratulated the newly formed government following the swearing-in of the Prime Minister, the Cabinet of Ministers and members of the 13th National Parliament, urging swift steps to restore economic stability.
The organisation said in a statement on Saturday that addressing prevailing economic challenges must be the immediate focus to ensure sustainable growth and private sector resilience.
Restoring macroeconomic stability should be the first priority of the new administration, including curbing inflation, ensuring a stable foreign exchange regime and improving liquidity in the banking sector, it said.
A stable economic environment is the key prerequisite for regaining investor confidence and sustaining industrial productivity, the platform said.
As a public-private dialogue body, BUILD urged the government to accelerate reforms to reduce the cost of doing business, particularly in view of the country’s graduation from the Least Developed Country category.
Streamlined trade procedures, rationalised tariff structures and removal of regulatory bottlenecks are essential to maintain competitiveness, it said.
Attracting domestic and foreign direct investment must remain central to the national economic agenda to create employment and diversify exports, the statement added.
Targeted policy support for Micro, Small and Medium Enterprises should also receive priority, as the enterprises form the backbone of the economy, BUILD said.
Simplifying licensing processes and ensuring easier access to finance for small business owners are critical, while formalising the informal sector through digital integration and simplified compliance would promote inclusive development, it said.
Since 2011, BUILD has served as the Secretariat to the Private Sector Development Policy Coordination Committee at the Prime Minister’s Office and said it remains committed to providing evidence-based research and facilitating structured dialogue between the government and the private sector.
The platform said it looks forward to working closely with the new government to implement result-oriented policies addressing immediate economic hurdles while laying the foundation for long-term growth.
BUILD is jointly promoted by Dhaka Chamber of Commerce and Industry, Metropolitan Chamber of Commerce and Industry and Chittagong Chamber of Commerce and Industry to support policy reforms aimed at improving the investment climate.
